Most discussions of higher education finance focus on the levels of funding (i.e., how much will the state appropriate this year?). While these discussions about levels of funding are undoubtedly important, too little attention is paid to the consequences of volatility in funding. Predictability matters – to institutions, students, families, and states. In addition, the risks of operating in an uncertain financial environment lead to behaviors that are not always in the best interests of states, institutions, or students. As such, this research conference has been developed to encourage new, original scholarship on volatility in state support for higher education.